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Money and Finances
Reply to "Is saving/investing actually a crappy way to get rich?"
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[quote=Anonymous][quote=Anonymous]Do you have nothing saved now to add to that number? Did you increase your contributions by inflation or wage growth? Also you will have Social Security for part of your retirement. Are you applying 15% twice? 2.36*.85*.03*.85 gets close to $70k, but won't it only be taxed once, at least the part in retirement accounts? Is any of it in Roth? Any employer contributions? Also a mortgage, if any, will stay nominal and eventually go away, allowing for a higher standard of living [/quote] Only about $100K saved now -- in cash, no investments. Was in school, then paid off student loans, bought a car, furniture, etc.[/quote]
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